The Red Bank Affordable Housing Corporation (RBAHC) was established in the spring of 2007, for the purpose developing affordable housing opportunities for low and moderate income families in the city of Red Bank. Upon its establishment, RBAHC entered into a unique triune relationship that includes the borough of Red Bank and Red Bank Housing Authority. The Red Bank borough administration acquired the land for RBAHC through funding provided by the Land Acquisition Act of New Jersey. The Red Bank Housing Authority serves as management agency for the property, and the RBAHC serves as developers of the project, as well as assisting potential homeowners with the income eligibility process and mortgage readiness.
The basic goal o the RBAHC is to "Build the Communty of Red Bank through Affordable Home Ownership". Its initial development of thirty-six (36) Townhouse Units (known as Cedar Crossing of Red Bank) provides homeownership opportunities to thirty six (36) qualified familes in our community. Phase I (20-2 and 3 bedroom units) were completed in the fall of 2011. Phase II (16 units) were completed in 2012.
Funding for the development was secured through three (3) primary sources: the Housing, Mortgage and Finance Agency of New Jersey (NJHMFA), the CHOICE program of Monmouth County, and construction loans from Investors Bank.
Currently, Pastor Terrence K. Porter serves as the President/Chairman of the RBAHC Board of Trustees.
RBAHC Board of Trustees
Terrence K. Porter, President ~ Jean Mondesir, Treasurer Marlene Nelson, Secretary
Alexander Brown ~ Denzel Donaldson ~ Vanessa Munson ~ Frank Pino
" Building the Community
Red Bank Affordable Housing Corporation
Lottery Drawing ~ October, 2010
Phase I Contruction Begins
Monmouth County Community Development Program
NJ Housing and Mortgage Finance Agency
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Welcome to Cedar Crossing!
- 2 bedroom units available
- Individual unit pricing based on NJ COAH
- Regional Income Limits for Region 4
- 100% mortgage financing available through NJHMFA-HAS
- Closing cost assistance available
2 bedroom units priced from $89,775 to $147,586
CEDAR CROSSING OF RED BANK